Collapse of the global financial system.
Discussion
Olf said:
Frankeh said:
It'll never happen because there's too much to lose nowadays. The guys in power will figure something out.
I really don't believe that...If the value of "old master" paintings drops from £3 million to 50p and your house value falls by 90% who cares? So long as farmers are still growing food, Tesco is still selling stuff and the dustman takes the bins away life goes on.
98elise said:
Its all going to get a bit Mad Max
Does this mean we all have to dress in biker gear and strap a bloke in a gimp suit to the front of our cars?I've always wondered why people wear biker gear in apocalyptic situations. Is this because all the Millets shops get burned down first?
If it all collapses I am going to my nearest abandoned army base and nicking every piece of hardware I can get my hands on.
Unlike in apocalypse films where for some reason, despite the whole army being dead, no-one ever tinks that defending yourself using top-notch and freely available hardware is a better idea than some old rusty shotgun.
Unlike in apocalypse films where for some reason, despite the whole army being dead, no-one ever tinks that defending yourself using top-notch and freely available hardware is a better idea than some old rusty shotgun.
Four Litre said:
The petrol wont last long, remember how quickly the garages sell out once a bit of snow falls or we get a few leaves on the line, just imagine how quickly it will all go south in a real panic event.
With that in mind, im off down to tescos with the wheeliebin to stock up on unleaded....Frankeh said:
Why would the army be dead because money doesn't work any more?
I was injecting humour.My actual theory is that what we are possibly seeing is an end to civilsation in the structure we know it by, That doesn't mean apocalypse in Zombie movie way but it could possibly mean hunger, war and mass migrations, just like at the end of the Roman Empire.
It'll be slow and drawn out and even my kids won't be there for its final acts but its a plausible theory.
But that more depressing.
I like the idea of running around the woods and eating wild animals as much as the next PHer, but I don't think that's really on the cards.
At some point there will be a major sovereign debt default, perhaps some countries leaving the Euro, and a continued decline and stagnation of the major developed economies for a few years until someone makes the necessary cuts. More 1970s than Mad Max.
At some point there will be a major sovereign debt default, perhaps some countries leaving the Euro, and a continued decline and stagnation of the major developed economies for a few years until someone makes the necessary cuts. More 1970s than Mad Max.
Frankeh said:
It'll never happen because there's too much to lose nowadays. The guys in power will figure something out.
Seriously? Look at the riots a few weeks back, thats was just a small breakdown in Law and Order. Imagine what happens when an economy colapses and you can't buy food/fuel.
In all seriousness though, how best to prepare for a complete f
k up on the markets and the Euro falling?
I've got an offset mortgage against which all my saving sit. I looked into what happens last time round in the event of problems with the bank and the answer sensibly enough was that you'd lose the liquidity of your savings, they'd just be written against your outstanding mortgage debt. I can live with that. But if you've got no credit card debt is it best to have some gearing given that the value of that debt may devalue in the event of a crisis?
On thing that was clear during the last crisis was that the imprudent won out. Why should it be any different this time?
(only half tongue in cheek that last bit)
k up on the markets and the Euro falling?I've got an offset mortgage against which all my saving sit. I looked into what happens last time round in the event of problems with the bank and the answer sensibly enough was that you'd lose the liquidity of your savings, they'd just be written against your outstanding mortgage debt. I can live with that. But if you've got no credit card debt is it best to have some gearing given that the value of that debt may devalue in the event of a crisis?
On thing that was clear during the last crisis was that the imprudent won out. Why should it be any different this time?
(only half tongue in cheek that last bit)
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